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The vigil is not welcome here



Hard Pass

The French Minister of Economy and Finance just warned that Libra, Facebook's controversial cryptocurrency, will not be allowed in France if it launches as planned next year.

The minister, Bruno Le Maire, shot at Libra at a cryptoconference on Thursday, according to Vice News . He told the audience that he would do what he could to not only prevent the Libra from being developed on French soil, but also from being used in the country if launched.

No Uncertain Terms

Le Maire told the audience that Libra threatened to undermine the euro and destabilize the entire French economy – and he has no interest in playing ball with Facebook's plan. He also shared concern that if the economy hit, people could make matters worse by leaving government-sanctioned currencies in favor of Facebook's Libra, [reportsfrom Vice .

"The monetary sovereignty of countries is at stake [from] possible privatization of money by a single player with more than 2 billion users on the planet," said Le Maire per Vice . "All these concerns about Libra are So, I would say this with a lot of clarity: Under these conditions, we cannot authorize the development of Libra on European soil. "

READ MORE: France took a look at Facebook's Cryptocurrency and Said, & # 39; Hell, Non & # 39; [ Vice News ]

More on Libra: Supporters for Facebook's Libra Cryptocurrency May Jump Ship


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